Can a Non-Resident Open an Investment Account in Canada? (2024)

FAQs

Can a non-resident open an investment account in Canada? ›

Non-residents must be a Canadian citizen, have a minimum of $25,000 to invest and maintain a bank account in Canada. Availability varies by country.

Non-residents who invest in Canadian mutual fund investments may be taxable on capital gains distributions made by mutual fund trusts and on capital gains dividends paid by mutual fund corporations from the disposition of taxable Canadian property (TCP).

Non-residents can buy stocks in Canada through licensed brokers and via exchange-traded funds (Canadian ETFs). Contact Alpen Partners to find out the best dividend stocks in Canada for you.

US residents are required to report their world-wide income on their US tax returns. Therefore, any income earned in the Canadian investment account needs to be included on the US resident's US tax return each year. Any non-resident taxes withheld by Canada can be claimed as a credit on the US resident's US tax return.

A non-registered account is an investment account that is taxable for Canadian citizens. It means that it is not registered with Canada's federal government. These accounts have no contribution limits and are more flexible in terms of investments, however, offer no major tax advantages.

There is no citizenship requirement for owning stocks of American companies. While U.S. investment securities are regulated by U.S. law, there are no specific provisions that forbid individuals who are not citizens of the U.S. from participating in the U.S. stock market.

Canadian financial institutions and other payers have to withhold non-resident tax at a rate of 25% on certain types of Canadian-source income they pay or credit to you as a non-resident of Canada. The most common types of income that could be subject to non-resident withholding tax include: interest.

Can a non-resident open an RRSP account in Canada? ›

RRSP contributions are permissible as a non-resident but as you have noted, Kyle, there is no immediate benefit because you have no Canadian income to offset. The contributions would grow tax deferred thereafter but it sounds like you are not sure where you will end up in the long run.

GICdirect.com can place a Guaranteed Investment Certificate (GIC) for you if you are living outside of Canada but you must have an active chequing account with a Canadian Financial Institution, as well as your Canadian social insurance number (SIN).

Costs for the Canada Investor Visa and SUV

There are fees involved, and it will cost around CAD$50,000 for a family of four for legal, administrative, government services, and residence requirements. As described above, the cost to participate in the program will be around CAD$200,000.

What is Golden Visa in Canada in 2024? The golden visa program, also known as an investor visa, offers foreign individuals and their families the opportunity to obtain permanent residency and even citizenship in Canada by purchasing a business or investing in a Canadian business.

Any individual that is a non-resident of Canada who has a valid SIN and who is 18 years of age or older is also eligible to open a TFSA.

I'm an expatriate who lives outside of Canada. Can I invest with CI Direct Investing? Yes!